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311 sats \ 1 reply \ @nichro 19 Dec \ parent \ on: How to conceptualise multisig? bitcoin_beginners
sorry to badger you, just to make sure I get it because this is a setup I'm considering if it's possible
3 friends each have their own seed phrase and wallet that holds funds,that they use normally
one day they decide to form a multisig 2 of 3
they each contribute the seed they already have, the one from their respective normal wallets
now they have an extra multisig / shared wallet on top of their own solo wallet that they can still control as normal?
they each contribute the seed they already have
Do not share your seed phrase. Do not! Instead, the xpub should be shared. Download sparrow, create a multi-sig wallet and it will be immediately clear what I'm talking about.
now they have an extra multisig / shared wallet on top of their own solo wallet that they can still control as normal?
Yes, they would have a wallet that's single sig and a wallet that's multi-sig with different Bitcoin addresses. If you download sparrow wallet and create a single sig seed phrase for one script type and then create a new wallet, import the seed phrase and use the multi-sig script type, you will see different Bitcoin addresses and see what I'm talking about.
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